Medication Inventory Management: How to Get it Right

If you are involved in dispensing medications, you will probably have to set up some sort of inventory management system. Through the medication inventory management system, you can be in a position to tell the quantities of various medications you have in stock. You can subsequently be in a position to figure out which medications you need to order (that is, which medications’ stocks are running low). In the absence of a medication inventory management system, you can end up in embarrassing situations. For instance, you could end up running out of essential medications — to the detriment of the people who depend on the medications you dispense. Or you could end up with too much stock of certain medications, ultimately leading to a situation where those medications expire well before they are dispensed.

You have several options, while setting up a medication inventory management system.

Manual inventory management

If you deal with just a few medications that are dispensed only once in a while, you can set up a manual inventory management system. This is where you would acquire a book/ledger, where you would be recording the medication stock movements. If you take this option, you will get to save on the money that you’d otherwise have spent buying an automated inventory management system. But on the downside, this option is time consuming.

Using a computer spreadsheet

Another option is that of setting up a simple, computer-based medication inventory management system. For instance, you can create a spreadsheet, and feed it with the relevant formulas to help you in keeping track of the medication stocks.

Using specialized software

Yet another option is that of buying one of the specialized medication/pharmacy inventory management software systems. This makes sense if you deal with numerous medications, that are always being dispensed – making it hard to keep track of them manually or through a simple spreadsheet. The power of specialized software systems can’t be underestimated. You just have to look at the effectiveness of the krowd darden paycheck system, to see just how effective such systems tend to be. Of course, to be able to use this system, you need to be authorized and to know how to login to krowd portal. But it definitely is a highly effective system. And by opting to use a specialized medication inventory management system, you can attain the same level of efficiency and effectiveness.